‘Obamacare Worst Law Passed In 4 Decades’, Says Former WH Budget Director
Fundamentally transforming America
A backlog of Americans tried to get onto the Obamacare exchanges that went live on Tuesday, amid delays and glitches with the marketplaces. Meanwhile, a shutdown continues as the GOP tries to defund, delay, or otherwise defang the law.
David Stockman, former director of the Office of Management and Budget in the Reagan Administration, former member of Congress, and author of “The Great Deformation,” essentially says: bring it on. This, despite Obamacare being the law, passed in 2010 by a president who was re-elected in 2012 (while the candidate who ran on repealing it was defeated), and which has been upheld by the Supreme Court.
So why should it be repealed?
“It is the worst law ever passed in the last four decades by the federal government,” Stockman argues in the video above. “It is a massive entitlement to end all entitlements. It is going to cause a fiscal hemorrhage that is not even yet anticipated. It will tie up one-sixth of GDP in the most monstrous, massive, bureaucratic snarl that you can’t imagine. So therefore this needs to be stopped before it becomes operational.”
Healthcare consultants like Jon Kingsdale — who helped set up some of the state exchanges — say these online Obamacare insurance “stores” will affect only the 5% to 10% of Americans who are uninsured (where they can now shop for insurance with transparency). Americans who purchase insurance this way qualify for government subsidies so that monthly premiums are not more than 9.5% of their income.
But Stockman expects these numbers to spike, speculating that more companies will follow the lead of GE (GE) and Walgreen (WAG) who have announced they will move employee or retiree healthcare benefits to private exchanges. Once millions of additional Americans are “dumped” onto Obamacare exchanges, Stockman expects the cost to the government of subsidizing (with tax credits) these Americans’ insurance to swell. source – Yahoo News
|Print article||This entry was posted by NTEB News Desk on October 4, 2013 at 7:43 pm, and is filed under HealthCare, Hillary Clinton, Liberals, Obama. Follow any responses to this post through RSS 2.0. Both comments and pings are currently closed.|
about 3 days ago - 20 comments
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about 2 weeks ago - 32 comments
A Senate with no rules. A president without boundaries. One day, when a few bottled-up judicial nominees and a malfunctioning health-care Web site are barely a memory, we will still be dealing with the toxic residue of this outbreak of authoritative lawlessness.
about 2 weeks ago - 14 comments
about 3 weeks ago - 43 comments
UnitedHealth Group dropped thousands of doctors from its networks in recent weeks, leaving many elderly patients unsure whether they need to switch plans to continue seeing their doctors, the Wall Street Journal reported on Friday.
about 4 weeks ago - 24 comments
In a closed-door meeting at the Capitol, House Democrats blasted administration officials over their handling of the Obamacare rollout, and the White House’s failure to address Mr. Obama’s broken promise to Americans that they could keep their health insurance plans.
about 1 month ago - 3 comments
EXPLOSIVE VIDEO: Obamacare Navigators Were Trained To Lie And Commit Knowing Fraud When Signing People Up
about 1 month ago - 4 comments
Barack Hussein Obama is public enemy #1 of the American people. Obama knew you would not keep your health plan, Obama knew your premiums would skyrocket, Obama was well aware of all the falsehoods and pitfalls of his master scheme to defraud America. He does not need to be brought up on charges of treason, he needs to be escorted out of the White House under armed guard and taken to Gitmo for incarceration.
about 1 month ago - 10 comments
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